The euro has repeatedly moved to test the 1.1000 level against the US dollar during the European trading session, with sellers unable to break below the psychological support level. Continued defense of the 1.1000 level should eventually provoke a technical bounce in the EURUSD pair towards the 1.1065 resistance level. Failure to overcome the 1.1020 level should be considered extremely bearish for the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1065 level, key support is found at the 1.1000 and 1.0980 levels.
The EURUSD pair is only bullish while trading above the 1.1065 level, key resistance is found at the 1.1090 and 1.1120 levels.
